26 April 2019
We are paying the amount for online advertisement to facebook which is non resident company. we have to deduct TDS under equalisation levy. Can you please explain the procedure for the Computation of TDS under equalisation levy?
26 April 2019
6% deductable under equilisation levy and remitted to govt. The annual payment made to one service provider exceeds Rs. 1,00,000 in one financial year then only this levy is applicable.
26 April 2019
Sir, we are getting getting invoice only after the payment to them.the invoice is showing the amount what we have paid. So we have to pay TDS from our pocket. Yes or No?
27 April 2019
No, deduct from the payments. The equalisation levy so deducted during any calendar month in accordance with the provisions of sub-section (1) shall be paid by every assessee to the credit of the Central Government by the seventh day of the month immediately following the said calendar month.
CAclubindia
